JAKARTA - PT Ancora Indonesia Resources Tbk (OKAS) recorded US$ 1.75 million of net profit in the third quarter of 2019, rose by 145% from US$ 3.90 million of net loss in the same period of 2018. The profit increase came mostly from the sales increase.
Rolaw P. Samosir, President Director of PT Ancora Indonesia Resources Tbk (OKAS) stated that the sales posted US$ 120.83 million, rose by 18% from US$ 102.04 million in to the same period in 2018. "The sales increase of PT Ancora Indonesia Resources Tbk and its subsidiaries was around US$ 18.79 million; the contribution came from the sales increase of Ammonium Nitrate (AN) by 10%, the sales increase of explosives by 4%, the sales increase of emulsion by 1%, the other sales by 3%, and the decrease in drilling services by 8%; we have a decrease at drilling services," he said.
OKAS recorded US$ 20.27 million of gross profit, rose by 37% from US$ 14.83 million in the same period of 2018. EBITDA was recorded at US$ 15.80 million, up 112% from US$ 7.47 million.
PT Multi Nitrotama Kimia (MNK), a subsidiary of OKAS, recorded US$ 105.08 million of sales, rose by 22% from US$ 86.13 million in the same period of 2018. And, gross profit was at US$ 16.64 million, rose by 28% from US$ 13.03 million. (LK/W)